USDA: Nebraska Farm Real Estate Down 2%; Cropland Down 6%

USDA: Nebraska Farm Real Estate Down 2%; Cropland Down 6% August 15, 2017

Nebraska's farm real estate value, a measurement of the value of all land and buildings on farms, decreased from 2016, according to USDA's National Agricultural Statistics Service. Farm real estate value for 2017 averaged $2,900 per acre, down $50 per acre (2%) from last year.

Cropland value decreased 6% from last year to $4,550 per acre. Dryland cropland value averaged $3,550 per acre, $250 lower than last year. Irrigated cropland value averaged $6,180 per acre, $380 below a year ago. Pastureland, at $930 per acre, was $20 higher than the previous year.

Cash rents paid to landlords in 2017 for cropland were mixed from last year. Irrigated cropland rent averaged $238 per acre, $5 below last year. Dryland cropland rent averaged $149 per acre, $1 lower than a year earlier. Pasture rented for cash averaged $25 per acre, $1 above the previous year.

County level averages of 2017 cash rents paid to landlords will be released on September 8, 2017 and will be available through NASS Quick Stats at http:/quickstats.nass.usda.gov.